The Arsenal manager, Arsène Wenger, is on collision course with the Bolton chairman, Phil Gartside, over the proposed signing of Gary Cahill.

Arsenal have tabled an offer for the England defender which Bolton have described as "derisory".

The offer has been reported as £6m, but Wenger this afternoon insisted that figure was incorrect.

"That number is wrong," said Wenger. "It is completely wrong. I believe every negotiation is between two parties and you only have to sell the player if you are all right with the price. In this case the information is below what has been spoken about."

The Bolton manager, Owen Coyle, dismissed the offer, saying "derisory doesn't even cover it", while Gartside retweeted a message sent by a Bolton fan angered by the offer.

Wenger, however, was furious at Bolton's reaction. He said: "You only have to sell the player if you are all right with the price. It is not true. You can believe Gartside or you can believe me. It's not right. It's not the truth.

"If Gartside can say I am lying I am ready to confront him. The truth is that we never speak about our negotiations. If a club doesn't want to sell a player it can keep him. When we sign a player we come out here and tell you and keep the price a secret.

"They do not need to sell the player, they can keep him. If you ask do I want to buy your house and you are not happy with the price you say no, that's it.

"Why should you feel insulted? I don't understand. If the player is not for sale they can keep him. I don't understand the problem. If we want to buy the player we buy the player. I do not have to explain for how much."

Cahill began his career with Aston Villa and had loan spells at Burnley and Sheffield United. He has made three appearances for England, gaining his first start in a friendly against Ghana last March which ended 1-1.